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Capital Gain

PRAVEEN KUMAR

Dear Sir

Can i close my business loan taken by using capital gain (sold my residential flat given for rental)

Regards

Praveen

Capital gains from selling a rental flat can repay a business loan, but taxes apply after indexation. A user inquired about using capital gains from selling a rental residential flat to close a business loan. The response clarified that there are no restrictions on using funds from the property sale for this purpose, provided the user is willing to pay taxes on the capital gains after considering indexation. (AI Summary)
Income Tax
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